Overview
What is Hudson Development Corporation?
Hudson Development Corporation, located at 1 NORTH FRONT STREET, HUDSON, NY 12534, is a nonprofit organization dedicated to alleviating adult unemployment and enhancing employment opportunities. They achieve this goal by promoting instruction and training programs designed to improve or develop individuals' abilities. The organization's mission is multifaceted, aiming to better maintain job opportunities, reduce unemployment, and ultimately provide a platform for individuals to advance their capacities in the workforce. The corporation's efforts extend beyond numbers, with a small team of just two dedicated employees.
Official website here: www.hudsonfirst.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Stars (43%)
Hudson Development Corporation has received a low rating of 43% from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. The rating reflects a comprehensive evaluation of accountability and finance, with crucial elements like the liabilities to assets ratio and program expense ratio falling short. The organization's inability to meet expectations in these areas has contributed to its Zero-Star designation.
Despite some strengths, such as having a fully independent board and maintaining proper documentation for board meetings, there are critical weaknesses in the organization's financial management. The lack of a whistleblower policy and document retention policy raises concerns about internal governance and organizational integrity. These shortcomings suggest potential risks in accountability practices.
Overall, while Hudson Development Corporation has some positive aspects related to governance, the low scores in financial performance metrics highlight substantial areas for improvement. Prospective donors and stakeholders are encouraged to consider these factors carefully before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Hudson Development Corporation legitimate?
Hudson Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hudson Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $61,412
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.hudsonfirst.com
What is the mission statement of Hudson Development Corporation?
Hudson Development Corporation's mission is centered around alleviating and reducing adult unemployment, as well as enhancing and preserving job opportunities. The corporation also focuses on promoting education and training programs to help individuals enhance their skills and capabilities, thereby increasing their chances of securing employment. Furthermore, Hudson Development Corporation engages in scientific research to support these objectives.
Official website here: www.hudsonfirst.com
Who is the CEO of Hudson Development Corporation?
Phil Forman is the President of Hudson Development Corporation.
Official website here: www.hudsonfirst.com
What is the revenue of Hudson Development Corporation?
Hudson Development Corporation's revenue in 2022 was $2,110,550.
Official website here: www.hudsonfirst.com
Who are the executives of Hudson Development Corporation and what are their salaries?
The average compensation at Hudson Development Corporation during 2022 was $30,706. There are 2 employees and 13 volunteers at Hudson Development Corporation.
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- Compensation: $38,375
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Official website here: www.hudsonfirst.com
Where can I find the form 990 for Hudson Development Corporation?
Hudson Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hudsonfirst.com
Learn more at the official website: www.hudsonfirst.com
Mission Statement of Hudson Development Corporation
Hudson Development Corporation is dedicated to alleviating and reducing adult unemployment, enhancing existing job opportunities, and fostering the education and improvement of individuals' skills to increase their employment prospects. Their mission encompasses providing instruction or training to individuals, aiming to enhance their capabilities and open up more employment opportunities for them. Furthermore, the organization engages in scientific research to support these objectives. In essence, Hudson Development Corporation plays a crucial role in empowering individuals to secure and maintain employment, thereby contributing to a more robust workforce.
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Impact
October, 2024
Hudson Development Corporation significantly impacts adult unemployment in Hudson, NY, by creating and maintaining job opportunities while promoting training programs that enhance individuals' employability. By focusing on relieving and reducing unemployment, the organization works to equip residents with essential skills and knowledge, thereby improving their capabilities and increasing their chances in the job market. The emphasis on instruction and training ensures that individuals are not only prepared for current job opportunities but also positioned for future career advancement. This commitment to workforce development fosters economic growth and stability within the community, ultimately contributing to a more resilient and engaged population.
This information is meant to be a general summary of Hudson Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,091,838
- Gross Receipts: $3,033,392
Assets and Liabilities:
- Total Assets: $3,126,943
- Total Liabilities: $199,454
- Net Assets: $2,927,489
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Organization Details
Founding Year
1976
Phone
(518) 751-1044Principal Officer
Phil Forman
Main Address
1 NORTH FRONT STREET, HUDSON, NY, 12534
Website
www.hudsonfirst.comNTEE Category
Code: S30Z - Community improvement
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